What is NGL Energy Partners's net debt?

NGL Energy Partners (NGL) reported net debt of $3.35B in Q1 2026.

How has NGL Energy Partners's net debt changed year-over-year?

NGL Energy Partners's net debt increased by 8.8% year-over-year, from $3.08B to $3.35B.

What is the long-term trend for NGL Energy Partners's net debt?

Over 5 years (2021 to 2026), NGL Energy Partners's net debt has grown at a -0.7% compound annual growth rate (CAGR), from $3.47B to $3.35B.

What does net debt mean?

Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.

NGL Energy Partners NGL Net debt

Discontinued — last reported Q4 '26

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Other financials

Income statement

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Revenue$949.5M-2.2%

Gross profit$217.3M-17.0%

Operating income$109.7M+29.5%

Net income-$287.7M-2,196%

EPS (diluted)-$0.54—

Balance sheet

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Cash & equivalents$8.5M+50.6%

Total debt$3.4B+8.9%

Total equity$119.5M-26.5%

Total assets$4.2B-9.4%

Cash flow

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Operating cash flow$110.0M-29.0%

CapEx$31.6M-16.4%

Free cash flow$78.4M-33.1%

Valuation

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Market cap$2.05B+155%

Enterprise value$5.4B+32.6%

P/S0.7×+0.4×

Profitability

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Gross margin30.9%+3.1pp

Operating margin12%—

Net margin-4.5%-5.6pp

FCF margin4.6%+3.1pp

Returns & leverage

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Return on equity112.8%+89.0pp

Debt / equity25.6×+5.9×

Current ratio1×-0.3×

Where this comes from

Calculated from NGL Energy Partners’s reported figures.

$3.4Btotal debt−$8.5Mcash and equivalents=$3.35B

The official record: NGL Energy Partners’s 10-K, filed May 28, 2026, on SEC EDGAR. View the filing →

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Questions, answered.

What is NGL Energy Partners's net debt?: NGL Energy Partners (NGL) reported net debt of $3.35B in Q1 2026.
How has NGL Energy Partners's net debt changed year-over-year?: NGL Energy Partners's net debt increased by 8.8% year-over-year, from $3.08B to $3.35B.
What is the long-term trend for NGL Energy Partners's net debt?: Over 5 years (2021 to 2026), NGL Energy Partners's net debt has grown at a -0.7% compound annual growth rate (CAGR), from $3.47B to $3.35B.
What does net debt mean?: Total debt minus cash and equivalents at the quarter end. The debt that would remain if the company used all its cash to pay down borrowings.